The future of the European Union has never been in as much doubt as it is at the moment, according to the successful hedge fund manager George Soros in an interview published on his personal Website. Soros is well known for the more than 20 percent average growth his hedge fund saw each year from 1969 to 2011, and has looked at all the factors facing the European Union in the coming year. The most difficult factors facing Europe and its single currency zone include the aggressive stance Russia has taken toward it, the refugee crisis, debt problems, and a threatened British exit from the continent wide group.
Throughout her reign as the Chancellor of Germany Angela Merkel has been criticized by George Soros for her weak leadership style, which he believes is designed to keep the people of her company happy without showing true leadership skills. This has been seen in detail in the mishandling of the debt crisis in Greece, which has stumbled along since 2009; Soros believes the financial problems in Greece served only to provide European Union leaders with the ability to juggle multiple problems without solving any. Using his skills as a financial expert, George Soros has looked into the Greek debt problems to explain his belief Greece will not become a viable economy again until the country leaves the single currency Euro zone.
The problems in Greece have been an issue for many years, but George Soros said on Bloomberg he believes the questions posed by Russian aggression in Syria and the influx of refugees into Europe caused by Russian bombing have yet to be answered. Both Angela Merkel and George Soros agree the refugee crisis has the ability to destroy the European Union as a whole, which will no doubt lead to a global economic crisis. Soros believes Russian bombing is forcing refugees into Europe as a strategic ploy to put pressure onto the leaders of Europe that will lead to further border closures across the continent.
Finally, George Soros has identified the future of Britain in the European Union as a major topic that could lead to the collapse of the European if the proposed “Brexit” happens. Hungarian born George Soros believes the British public will probably vote to leave the common market in a planned referendum, but he believes this would be a mistake as the economy of the country benefits greatly from its unique membership of the European Union.